The Industry Within Which a Product Will Compete Should Affect

question 53

Multiple Choice

The industry within which a product will compete should affect the format of an organization's business or marketing plan.However,since the complexities of products can differ greatly,__________ differ.

• A)the size of the potential work force included in their plans
• B)the investment potential of investors included in their plans
• C)the experience of the key personnel demonstrated in their plans
• D)the time periods likely to be covered by their plans
• E)the knowledge of technical language used in their plans

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Definitions:

Availability Heuristic

A strategy in which one estimates the frequency or probability of an event by the ease with which mental operations, such as retrieval of examples and construction of examples, can be carried out.

Frequency

In general terms, it refers to how often something occurs within a specific interval or context, such as the number of repetitions of a wave per second in physics.

Expected Utility Theory

A normative model of decision making in which the decision maker weighs the personal importance and probabilities of different outcomes in choosing among alternatives in order to maximize overall satisfaction of personal goals.

Prescriptive

Relating to the imposition or enforcement of rules, norms, or recommendations, often in a directive way.